Astral Limited has received a Goods and Services Tax (GST) demand order totaling ₹1,91,873 in tax, with an additional interest of ₹1,18,487 and a penalty of ₹82,00,747. The company intends to contest this order. Astral stated that this demand order is not expected to have a material impact on its financial or operational activities. Further details regarding the specific violations are provided in the enclosed annexure.
GST Demand Order Received
Astral Limited announced on November 3, 2026, that it has received a demand order under the Goods and Services Tax Act, 2017. This notification is in accordance with Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of the Demand Order
The demand order was issued by the Assistant Commissioner of Central Tax, Sankrail Division, CGST & C. Ex. Commissionerate, Howrah. The action taken pertains to an order under Section 74 of the WBGST Act, 2017. The receipt date for this order was November 3, 2026.
Violations Cited
The alleged violations leading to this demand include:
- Short-payment of outward GST liability due to HSN Classification.
- Irregular availment and utilization of Input Tax Credit (ITC) falling under Blocked/Ineligible Credit.
- Ineligible availment and utilization of ITC before the physical receipt of goods at registered business premises.
Financial Implications
The total tax demand amounts to ₹1,91,873. Additionally, interest applicable to point no. 3 (ineligible ITC) is ₹1,18,487, along with applicable interest on other points, and a penalty of ₹82,00,747 has been levied.
Company’s Response and Impact Assessment
Astral Limited stated that it will challenge the order based on strong merits by filing its reply and submissions before the relevant authorities. The company further clarified that there is no material impact on its financial, operational, or other activities due to this intimation.
Source: BSE
